INFO- Support breakdown short from $43.27 to $35.57; $50 Jan Put
INFO broken down from a rising wedge & was consolidating. Now seems breaking down the consolidation & long term support label. If it breaks down, we think it may decline to as low as $35 area. To trade this down move, we would consider $50 January-2018 Puts, which last traded for $6
* Trade Criteria * Date First Found- October 25, 2017 Pattern/Why- Support breakdown short Entry Target Criteria- Break of $43.27 Exit Target Criteria- 1st Target $38.23, 2nd Target $35.57 Stop Loss Criteria- N/A Special Note- Good insider selling, debt to equity 0.50. January $50 Puts are $6.00 last price.
Please check back for Trade updates. (Note: Trade update is little delayed here.)
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